As of December 25, 2025, Bitcoin is experiencing a challenging trading period, remaining below the $90,000 threshold at $87,472. Recent market activity indicates that spot Bitcoin exchange-traded funds (ETFs) have encountered a day of net outflows, exacerbated by subdued holiday trading conditions. Compounding this dilemma is the upcoming expiration of approximately $30.3 billion in Bitcoin options, set for 8:00 a.m. UTC on Friday. Many of the call options are significantly above the current trading price, clustering around $100,000 and even $200,000, resulting in near-certain losses as expiration approaches.
In a notable development within the cryptocurrency space, Asia’s Strategy (MicroStrategy), operating under the name Metaplanet, has secured shareholder approval for an ambitious initiative to acquire 210,000 Bitcoin by the year 2027. This target equates to 1% of the total Bitcoin supply. This strategy was disclosed shortly before Christmas 2025 and outlines five strategic proposals, which include reallocating capital stock to surplus accounts to facilitate dividends and buybacks.
CEO Simon Gerovich elaborated on the company’s phased objectives, stating that Metaplanet successfully reached its goal of accumulating 30,000 Bitcoin in 2025 and aims to escalate this holding to 100,000 by the fiscal year 2026 and 210,000 by 2027 via a comprehensive “555 Million Plan” that encompasses warrants valued at $5.4 billion. This plan mirrors the approach of Strategy but aims to tap into the Japanese capital markets.
According to reports from DLNews, the board of Metaplanet has endorsed the plan for further Bitcoin acquisition, with the ambition of amassing 210,000 BTC by the end of 2027. The company plans to broaden its issuance of Class A and B shares, implement floating-rate features, and introduce quarterly dividends, among other mechanisms.
Since pivoting toward Bitcoin in April 2024, Metaplanet’s holdings have ballooned—from 8,888 BTC in June 2025 to over 30,000 BTC as of December 2025.
In the Ethereum market, Ethereum is trading at $2,921, significantly below its 2025 all-time high of $3,090, although the price reflects an increase of 3.9% over the last week. Ethereum Layer 1 has reported a record of 1.9 million daily transactions in 2025, driven by upgrades like Dencun and proto-danksharding, which have significantly boosted transaction throughput to 24,192 transactions per second. Additionally, transaction fees have decreased to less than $0.01, spurred by increased activity in stablecoins and decentralized exchanges.
Ethereum transactions hit 1,913,481 yesterday, with an average transaction fee of $0.16, marking a milestone in scalability for the network. However, traders are facing a challenging landscape with around $6 billion in ETH options expiring on the same Friday. Despite the presence of more than 2.2 times as many call options compared to puts, the market sentiment still leans bearish unless ETH can reclaim crucial price levels rapidly.
Amidst these developments, the ongoing pressure from options expiry and fluctuating cryptocurrency values has raised concerns among investors and market analysts alike, signaling a period of volatility in the digital asset space as 2025 draws to a close.
